Budget out without Central Bank governor

Though the national budget has been proposed to parliament, President Michael Sata has yet to appoint a new governor for the Bank of Zambia. The central bank’s website also lists every position on the board of directors as “vacant”.

A spokesperson for the central bank on Friday confirmed no appointments had been made, but shied away from further questioning regarding the governance at the institution.

Monetary policy decisions are made by the central bank’s Monetary Policy Committee, chaired by the governor, meaning that presumably currently, this crucial policy organ is functioning on an interim basis.